Understanding Industry Platform Vs Community Platform
- Who does it serve?
- What does it seek to achieve?
- When does it become relevant?
- Why is this needed and required?
“Integrating Market Community Into The Decision Making Process”
Industry Centric Platforms are inherently designed to invest significant portions of their time, resources and expertise in building private enterprises and businesses. While this approach is important to ensure creation of strong and viable enterprises, it falls short of capturing the aspirations and on-ground needs of a large section of the market community. This becomes decisive in deciding whether policies and regulations gain acceptance at ground level. While this model has served its immediate purpose and objectives, in a demanding and often less tolerant market system, the Industry Centric Platforms fail to rise to market expectations and standards.
On the other hand, Community Centric Platforms by their very definition fulfill the following important market objectives in a quick, efficient and purposeful manner –
- Help in going beyond information access to information validation and relevance
- Ensure effective decentralisation of collating market needs, insights and feedback
- Enable access to market community opinions thru on-demand and frequent exchange
- Assist in aligning business policies and regulations closest to real market requirements
For long term, sustainable and effective market ecosystem, it is vital to integrate the community into the decision making process. This ensures collective buy-in and involvement of all stakeholders for a robust marketplace. In the present environment, where access to information and expertise is all pervasive, an active community centric policy framework can deliver greater inclusion in decision formulation process. This is where Community Centric Platforms come in.